The body responsible for regenerating Tayside in Dundee has said that almost 10,000 new jobs could be created as the £1bn project gathers pace.
Dundee Waterfront has said that projects amounting to over £100m will either commence or be completed in 2013.
Projects scheduled to be signed off in the year include the new Malmaison Hotel and the Olympia Swimming Pool, which will cost £32m. The upgrading of the Tay Road Bridge will also be completed, as will the replacements for Station and South Marketgait bridges.
Other projects will be cleared for development as a planning application to develop Customs House and Harbour Chambers into a new £7m hotel are processed.
Projects due to start through the year include the £45m V&A Museum and the new £14m Dundee Railway Station.
The £30m Riverside apartments development should also get underway.
The director of Dundee city development, Mike Galloway said:
“We are very pleased with the rate of progress and the interest that is being generated in Dundee Waterfront. We are delighted with the amount of investment being generated by local businesses and, increasingly, by inward investment.”
With £500m of the total project cost already raised, many local businesses are also sourcing money through other means, such as invoice discounting and factoring
The Scottish Enterprise business infrastructure director, Allan McQuade, said:
“This significant level of investment will help transform the Waterfront area through major infrastructure improvements that will deliver economic benefits both today and in the future.”
Spanning 240 hectares over 8 kilometres of the River Tay, the Dundee Waterfront project is Scotland’s second biggest regeneration.